David Healy
David Healy
David Jonathan Healy, MBEis a Northern Irish former footballer and now football manager who is in charge at NIFL Premiership club Linfield...
ProfessionSoccer Player
Date of Birth5 August 1979
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In the light of the fact that GM burned through $7bn in cash last year, it was clear additional urgent action was required.
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The market has developed massively over the past five years; this is where the action is and where the growth is coming from.
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They're starting to act like a company that burned through $7 billion in cash last year.
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GM is losing market share overall, but mostly because of its fleet sales. GM's sales to actual retail customers were up a bit in February, so its total market share is down, but in the units that really count, the results weren't that bad.
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I think the losses at Ford and GM are at their maximum right now. If I'm right, and it becomes clear the losses are shrinking, the stocks may act a little better. But I'm not convinced enough right now to buy them myself.
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This is really more a matter of Mark Fields wanting to get his own people in place.
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I think it's a little tougher for the Chrysler Group than they're admitting.
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The improvements we are seeing are real. There are a lot of basic improvements being made that will accumulate in the third and fourth quarters.
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I suspect that Wagoner is under a lot of pressure from the board to turn things around. To me it seems the company is in crisis mode.
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In an environment where nobody's earning raises, if they turn the company around, they get rewarded.
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It looks like they bought a good part of York's program, though I'm not sure they didn't plan these changes anyway. York's arrival on the board simply accelerated the changes.
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Hertz has become less and less important as an outlet for Ford cars as Ford has pared back sales to Hertz and other daily rental companies. It's really a noncore business right now.
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The fight between Delphi and the union is scaring people about a strike shutting down GM. There's been a lot of piling on GM in the media, too.
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Ford would welcome the cash for liquidity purposes, to help provide for large unfunded pension liabilities and for research and development.